A mobile remittance app known for fast and free money transfers from the UAE to various global destinations has temporarily halted operations, citing system upgrades as the cause for the service interruption.
Taptap Send, highlighted as an international peer-to-peer remittance platform, has been inactive for nearly a week, according to expats who frequently use the app, as reported by Khaleej Times. Users expressed concern due to the timing, with payday approaching and many preparing to remit part of their salaries to families back home.
Upon opening the app, users received a notification stating: “Sending temporarily unavailable. We’ve paused transfers from the UAE for service upgrades. We aim to resume our low-cost, fast transfers promptly.”
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Khaleej Times contacted Taptap Send on Wednesday for further details but has yet to receive a comprehensive response.
“Customers favor the app for its zero transfer fees, competitive exchange rates, and quick transfers,” said Mohammed, 35, an Indian expat and marketing executive in Dubai.
“I appreciate the app because I can send money multiple times a month without worrying about service charges. I was surprised when it became unavailable since last Friday (October 17),” he added, mentioning that his friends also use Taptap Send to remit funds to India.
Founded in 2018 by Michael Faye and Paul Niehaus, Taptap Send launched in the UAE in June 2023, capitalizing on the growing popularity of mobile banking and digital wallets among expats. It is also available in the UK, US, Canada, Australia, and several European countries.
For Filipino expat Michael Ortega, the absence of transfer fees is a major benefit, as he sends money to his family in the Philippines 2-3 times monthly. “When I visit remittance centers, they typically charge Dh15 to Dh25 plus VAT. Mobile apps, however, offer zero cost.”
Every dirham is crucial for expats like Ortega, and remittances form a significant part of the UAE’s economy, the third-largest globally after the US and Saudi Arabia. Last year, Indian expats in the UAE sent $21.6 billion to India, accounting for 19.2% of total dollar inflows. In 2024, Filipino workers in the UAE remitted approximately $1.52 billion to the Philippines, according to Statista.
Operational Sustainability
The UAE remittance market remains dominated by traditional companies and major banks. New players like Taptap Send offer zero remittance fees as a growth tactic, explained UAE-based financial coach Jay Adrian Tolentino.
This strategy, however, can challenge operational sustainability.
Tolentino noted: “Remittance apps without transaction fees often profit from FX spreads (the difference between buying and selling currency rates). Free transfers are usually a growth strategy. But as they scale or face higher compliance and licensing costs in the UAE, known for strict regulations, they may introduce minimal fees or adjust FX spreads to maintain sustainability.”
Photo: Jay Adrian Tolentino
“The remittance sector is highly competitive, requiring creativity to survive,” he added. “Sustainable remittance businesses need either volume (more customers), funding, or small FX margins to thrive.”
Tolentino also mentioned that remittance apps are ideal for low-volume transfers, hence their popularity among middle to low-income expats. “For larger transactions, banks often offer better rates,” he noted.
This isn’t the first instance of remittance issues this year. In July, some UAE residents experienced transaction delays due to a technical glitch over a busy weekend. Affected customers received cashback vouchers ranging from Dh20 to Dh60, and the company promised enhanced measures to prevent future occurrences.
